Namibia’s GDP contracted in 2017, 1.2 percent growth expected for 2018

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WINDHOEK (Reuters) – Namibia’s economy contracted in 2017 by 0.4 percent but is expected to recover and expand by 1.2 percent in 2018 and by double that the year after as a return of government spending boots activity, the finance minister said on Wednesday.

The small southern African nation’s budget deficit will decrease to 4.5 percent of GDP in 2018/19 from 5.8 percent in the previous year, Finance Minister Calle Schlettwein in a budget speech delivered before parliament.

Reporting Nyasha Nyaungwa; Writing by Mfuneko Toyana; Editing by Ed Stoddard

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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